Vietnam appreciates Apple investment, creation of 200,000 jobs: PM

Vietnam appreciates tech giant Apple’s investments that have generated 200,000 jobs and will set up a working group to further support its activities, Prime Minister Pham Minh Chinh said Tuesday.

Receiving Apple CEO Tim Cook in Hanoi, Chinh also expressed delight that the former had accepted the invitation to visit Vietnam that was conveyed during the PM’s U.S. visit in May 2022.

He urged Apple to continue helping Vietnam in updating legal frameworks, achieving green growth, deploying renewable energy (solar, wind, biomass power) and developing a high-quality workforce.

This would contribute to optimum utilization of the recent update in Vietnam-U.S. ties to that of a comprehensive strategic partnership, he added.

The prime minister also called on Apple to see Vietnam as a key hub in its supply chain, adding that the Vietnamese government will establish a working group to facilitate Apple’s activities in the country.

Vietnam was implementing three breakthrough strategies related to institutions, infrastructure, and human resources to facilitate investors, Chinh said.

Cook expressed high appreciation for the Vietnamese prime minister’s suggestions and said he was willing to boost cooperation and make high-quality investments in Vietnam, including the developments and promotion of made-in-Vietnam apps on Apple's App Store.

Apple also stands ready to cooperate with Vietnam in energy transition towards achieving net-zero emissions by 2050; and promote Vietnamese culture and traditions via Apple products and apps on the App Store, Cook said.

With over 70 factories of Apple suppliers, over 5,000 authorized stores, 40 distribution partners and 200,000 workers, Vietnam-Apple cooperation has the potential to go beyond current collaboration, he added.

Apple announced plans to increase investments in manufacturing hub Vietnam as CEO Tim Cook began a two-day visit to the country on Monday. The tech heavyweight noted that it has spent nearly VND400 trillion ($15.88 billion) since 2019 via supply chains in Vietnam, and more than doubled annual spending in the country during the same period.

Vietnam has emerged as one of Apple’s most important manufacturing hubs, with suppliers like Luxshare, Foxconn, Compal, and GoerTek operating factories in the country.